Pakistan’s export of services witnessed a year-on-year paltry growth of 2.17 per cent to $538 million in the first month of the current fiscal year. The uptick was unprecedented because the commodities exports dipped in July, according to data compiled by the Pakistan Bureau of Statistics. In rupee terms, the exports of services grew 30.84pc in July to Rs151.182 billion against Rs115.550bn
Sugar prices rose to record levels in various parts of the country on Monday, as members of the former ruling coalition continued to trade blame over who was ultimately responsible for the country’s dwindling stocks of the commodity. The growers, on the other hand, hold the recently dissolved PDM government responsible for its failure to stop the menace of smuggling which, they claim, sent almo
Construction activities appear to have revived following a 37 per cent jump in domestic sales to 6.573 million tonnes during the first two months (July-August) 2023-24 from 4.8m tonnes in the same period last year. Export despatches also swelled by 117.13pc to 1.175m tonnes during 2MFY24 from 540,957 tonnes during the same period last year. As a result, total cement despatches (domestic and
Exporters fear more declines as the textile sector, which accounts for over 60 per cent of the country’s overall export earnings, is not getting fresh orders while India is aggressively lobbying for GSP+ status which could replace Pakistan in the European market. “We are not getting new orders for exports. We are working on orders in the pipeline which means the coming months will see a sharp d
The interbank market remained relatively calm on Monday while the open market witnessed some wild fluctuations during the session. The dollar gained 17 paise to close at Rs305.64 compared to Rs305.47 the previous day, reported the State Bank of Pakistan. The news about the $70bn possible foreign investments in Pakistan was listened to interestingly by the market and the currency dealers said